Ebay demanding bank account info

[fishyfool]

I have been a paypal user since ebay forced me to sign up with them in 1999. (they were a part of ebay)
I have become comfortable with their service and I am not willing to change payment providers.
Ebay is sending me threatening letter through my email to update my payment info or there will be some unknown repercussions.
I am about a day from contacting a lawyer and suing ebay if they don't either mail me a check or deposit my funds in my paypal account.
Any suggestions besides giving ebay my banking info?

[mam98031]

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@fishyfool wrote:

**bleep**. Ebay verified me 22 years ago when I sold my first item. It's a power play by Ebay and I'm not playing along.

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No they didn't.  Sometimes they would verify addresses, but beyond that, they did not verify your ID like they need to now because of their Managed Payment program.  Ebay has federal Anti Money Laundering laws they have to comply with as well as some Banking regulations and just for icing on that cake, federal regulations for IRS.

You may not agree that they do, but that won't change the fact that they actually do.  You may not want to give them the information they ask for, but that doesn't mean they don't need it.

[mam98031]

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@fishyfool wrote:

Actually, being as I live in California they have to give me another option

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Please give us a link to the law which requires this.

Does that mean that Etsy, Amazon, Mercari, Poshmark, Offerup, etc., which have their own money processing programs, have to give you an option?  Or is this only reserved for Ebay?

@fishyfool 

[tiggy4]

So you're saying ebay can hold or confiscate your existing money on account if you don't provide 

your bank details after the changeover occured?  Where in the user agreement do they say that? I had ebay provide that section and it appears to be a real gray area.  

[kh-stanley1]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread HERE if you wish to continue to discuss this topic.

Thank you for understanding.